Richtech Robotics (NASDAQ:RR) Stock Price Down 1.3% – Time to Sell?

Richtech Robotics Inc. (NASDAQ:RR)’s share price fell 1.3% during trading on Friday . The company traded as low as $2.81 and last traded at $3.00. 20,265,892 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 21,443,107 shares. The stock had previously closed at $3.04.

Analyst Ratings Changes

Several research analysts have recently weighed in on RR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a research report on Wednesday, October 8th. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, HC Wainwright upped their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.

Richtech Robotics Price Performance

The business has a 50-day moving average of $4.78 and a 200-day moving average of $3.09. The firm has a market cap of $449.68 million, a price-to-earnings ratio of -17.65 and a beta of -4.13.

Insider Buying and Selling at Richtech Robotics

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total transaction of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares of the company’s stock, valued at $5,110,000. The trade was a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Richtech Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in RR. Vanguard Group Inc. increased its holdings in Richtech Robotics by 164.0% during the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after buying an additional 2,865,386 shares during the last quarter. Bank of America Corp DE grew its position in shares of Richtech Robotics by 3,231.2% in the 2nd quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after acquiring an additional 1,211,256 shares during the period. Geode Capital Management LLC increased its stake in shares of Richtech Robotics by 128.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock worth $2,854,000 after purchasing an additional 824,253 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Richtech Robotics during the 1st quarter worth about $1,630,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Richtech Robotics by 8,471.0% in the 3rd quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock valued at $2,166,000 after purchasing an additional 498,940 shares during the period. 0.01% of the stock is owned by institutional investors.

About Richtech Robotics

Richtech Robotics Inc develops, manufactures, deploys, and sells robotic solutions for automation in the service industry. The company offers indoor transport and delivery, sanitation, and food and beverage automation solutions, such as ADAM and ARM worker robots; delivery robots, including Matradee, Matradee X, Matradee L, Richie, and Robbie; and cleaning robots comprising DUST-E SX, and DUST-E MX, as well as accessories, such as bus tubs, cup holders, magnetic tray cases, smartwatches, table location systems, and tray covers.